Bristow Group To Combine With Columbia Helicopters In A $560 Million Transaction, Creating A Leading Global Diversified Industrial Aviation Solutions Company
BRISTOW GROUP (BRS)
Last bristow group earnings: 2/11 04:33 pm
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Source: PR Newswire
HOUSTON, Nov. 9, 2018 /PRNewswire/ -- Bristow Group Inc. (NYSE: BRS), the leading provider of global industrial aviation services, announced today that it has signed a definitive agreement to combine with privately-held Columbia Helicopters, Inc. ("Columbia") for $560 million. Columbia will be designated as an unrestricted subsidiary under the Columbia name and air operating certificate (AOC). Bristow expects the complementary transaction to strengthen the company's operational and consolidated financial profile by delivering adjusted EBITDA and cash flow accretion; reducing consolidated net leverage; diversifying the combined company's fleet and customer base; expanding its addressable market, especially in the U.S. government sector; and producing significant incremental revenue opportunities.Founded in 1957 by Wes Lematta and headquartered in Aurora, Oregon, Columbia is the leader in heavy-lift helicopter operations and trusted expert in maintenance, repair and overhaul services, w
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